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Types of Business Entity

A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service.[] There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example:

However, the regulations governing particular types of entities, even those described as roughly equivalent, differ from jurisdiction to jurisdiction. When creating or restructuring a business, the legal responsibilities will depend on the type of business entity chosen.[1]

Australia

LLP (Limited liability partnership): partnerships are governed on a state-by-state basis in Australia.In Queensland, a limited liability partnership is composed of at least one general partner and one limited partner. It is thus similar to what is called a limited partnership in many countries.

Ltd. (Limited) plc (UK). The suffix Ltd. may also be used by a private company limited by guarantee, such as a charity or university (these may obtain dispensation from the Registrar of Companies to operate without the suffix).

NL (No liability): A type of mining, speculative, or research company with no right to call up the unpaid issue price of shares.

Pty. Ltd. (Proprietary Limited Company) Ltd. (UK) ATF Trust. In Australia companies can act as a trustee for a trust.

Pty. (Unlimited Proprietary) company with a share capital: A company, similar to its limited company (Ltd., or Pty. Ltd.) counterpart, but where the liability of the members or shareholders is not limited.

Canada

In Canada entities can be incorporated under either federal or provincial (or territorial) law. Unlimited liability corporations can be formed in Alberta "AULC" and Nova Scotia "NSULC".

The word or expression "Limited", Limitée, "Incorporated", Incorporée, "Corporation" or Société par actions de régime fédéral or the corresponding abbreviation "Ltd.", Ltée, "Inc.", "Corp." or S.A.R.F. forms part of the name of every entity incorporated under the Canada Business Corporations Act (R.S., 1985, c. C-44). ? Ltd. or Plc (UK)

As an exception, entities registered prior to 1985 may continue to be designated Société commerciale canadienne or by the abbreviation S.C.C.

Under the Canada Cooperatives Act (1998, c. 1), a co-operative must have the word "cooperative", "co-operative", "coop", "co-op", coopérative, "united" or "pool", or another grammatical form of any of those words, as part of its name.

Unlike in many other Western countries, Canadian businesses generally only have one form of incorporation available. The aforementioned AULC and NSULC are generally not used as operating business structures, but are instead used to create favorable tax positions for either Americans investing in Canada or vice versa.[8]

Rather, Canadian businesses are generally formed under one of the following structures:

SP (Sole Proprietorship): No formal business structure is established

GP (General Partnership): Either a formal structure with a partnership agreement, or an informal structure, in which case the Partnerships Act for the province will apply

LP (Limited Partnership): An investment structure, limiting both the liability and the participation of the investor. An investor who takes an active role will be deemed a general partner, and become exposed to unlimited liability.

Corporation

Joint Venture: A business activity shared by two or more business entities. The joint venture's activities must be finite in terms of either time or scope.

obrtsole proprietorship; several types: slobodni, vezani, and povla?teni obrt (free, tied, and privileged proprietorship registered according to profession; tied and privileged proprietorships are those only master craftsmen can register,) pau?alni obrt, obrt-dohoda?, obrt-dobita? (flat-rate proprietorship, income tax p., profits tax p.; these are registered according to the type of taxation; first two are obligated to pay income tax and the last one is obligated to pay profits tax), sezonski obrt (seasonal proprietorship, that runs for a limited number of months during a year)[15]

SE (Societas Europaea): a European (Public) Limited Company (Societas Europaea is Latin for "European Company").

(proposed)SPE (Societas Privata Europaea): a European private limited company, corresponding to Ltd., GmbH, etc. This form of company is currently being proposed by the European Commission.

An SE or SCE may be created by registration in any of the EU/EEA Member States, and is subject to the European Company Statute. It may relocate its registered office to any other EU/EEA Member State with minimal formalities.

valtion liikelaitos (Swedish: statens affärsverk): commercial government agency, expected to fund themselves, but debts directly backed by state funds--distinguished from regular companies where the government owns stock. (See: List of Finnish government enterprises)

kunnallinen liikelaitos (Swedish: kommunal affärsverk): municipal enterprise, similar as previous but run by a municipality

paliskunta: a reindeer herding corporation, governed like a stock company except that the "stocks" are reindeer[24]

Economic entities for special purpose

asunto-osakeyhtiö (Swedish: bostadsaktiebolag), a limited liability company for the ownership, construction and maintenance of an apartment building[25]

In the corporations of real estate law, the ownership or membership may be vested either in the real property or in a legal or natural person, depending on the corporation type. In many cases, the membership or ownership of such corporation is obligatory for a person or property that fulfils the legal requirements for membership or wishes to engage in certain activities.

keskivedenkorkeuden muuttamista varten perustettu yhteisö (Swedish: Sammanslutning som bildas för höjning av medelvattenståndet),[30] a corporation of water law for the permanent change of the median water level

ojitusyhteisö (Swedish: dikningssammanslutning),[31] a corporation of water law for the construction and maintenance of ditches

säännöstely-yhteisö (Swedish: regleringssammanslutning),[31] a corporation of water law for the regulation of water level in a body of water

tiekunta (Swedish: väglag), a type of limited-liability corporation for the maintenance of private road[32]

uittoyhteisö (Swedish: flottningssammanslutning),[33] a corporation of water law for timber-floating

vesioikeudellinen yhteisö (Swedish: vattenrättslig sammanslutning),[34] a corporation of water law for a project that involves economic use of bodies of water

yhteisalue (Swedish: samfälliga område),[35] a corporation for the maintenance of a real property jointly used by several other properties or persons

SAS (Société par actions simplifiée) unlisted public company (Au), close corporation (CC) (S. Africa), private corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can be restricted to director; no "one share - one vote" principle

SASU (U- unipersonnelle): limited liability, sole shareholder Ltd. company (UK) or single member close corporation

Germany

individuals

Einzelunternehmen: individual entrepreneur ? sole trader (UK), sole proprietorship; only professional services, agriculture and forestry as well as small commercial businesses

Gesellschaft bürgerlichen Rechts (GbR), BGB-Gesellschaft:[37] simple partnership; no minimum capital, two or more partners, unlimited liability of partners, no commercial business (Handelsgewerbe) that is not small.

The "mit beschränkter Haftung (mbH)" suffix (German: ['?mbe:?ha:], "with limited liability") is sometimes added to the name of a firm that already ends in "-gesellschaft" ("company"), e.g., "Mustermann Dental-Handelsgesellschaft mit beschränkter Haftung" ("dental trading company with limited liability"), which would be abbreviated as "Mustermann Dental-Handelsgesellschaft mbH".

Unternehmergesellschaft (haftungsbeschränkt) (UG (haftungsbeschränkt)): literally "entrepreneurship company (with limited liability)": identical to GmbH but with a minimum capital of EUR1 (times the number of shares); part of earnings needs to remain in the company to reach a minimum equity of EUR25,000.

I.K.E. (Idiotiki Kefalaiouchiki Etaireía / ? ) = Private Company, minimum capital=EUR0. The shares do not take the form just of capital but also warranties, labor offer etc. This form is a composite form between A.E. E.P.E and O.E. which is greatly affected by the Articles of Incorporation.

Unltd or Ultd (Unlimited/?): similar to a limited liability company (Ltd) but whose members or shareholders do not benefit from limited liability should the company ever go into formal liquidation. It is not a requirement under company law to add or state the word or designation Unlimited (?) or its abbreviations (Unltd or Ultd) at the ending of its legal company name, and most unlimited companies do not.

Hungary

In Hungary, business entities are mainly regulated by the Companies Act of 2006,[38] the Companies Registration Act of 2006 and the new Civil Code of 2013.[39] All companies are required to indicate their type in their name.

India

Sole Proprietorship - A sole proprietorship, also known as a trader firm or proprietorship, is a business firm that is owned and run by one individual. A sole proprietor may use a trade name or business name other than his or her name. Registration not required - In summary, biggest advantage is quick formation and low compliances. However, the biggest disadvantage is unlimited liability.

Partnership - liability is joint and unlimited. Registration not compulsory.

Active partners take part in day-to-day operations of the business, in addition to investing in it. Active partners are entitled to a share of the enterprise's profits.

Sleeping partners invest in the business and are entitled to a share of its profits, but do not participate in day-to-day operations.

Public Sector Undertaking (PSU) - Alternatively known as Public Sector Enterprise (PSE). It may be public limited company listed on stock exchanges with major ownership by a state government or a central government of India or it may be unlisted entity with major ownership by a state government or a central government of India. Some of these entities are formed as business entities through special legislation, where these entities are governed by the statutes of these legislation and may or may not be governed by company laws like a typical business entity.

One-person company - It is a type of private company which can have only one director and member.

Unlimited Company - A company, similar to its limited company (Ltd, or Pvt Ltd) counterpart, but where the liability of the members or shareholders is not limited.

Incorporation Company - Incorporation is the formation of a new corporation. The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town.

Ireland

Situation in Ireland is similar to United Kingdom below, though without the class Community Interest Company. There were two forms of Company Limited by Guarantee, but only the form without a share capital is now used. Irish names may also be used, such as cpt (cuideachta phoibli theoranta) for plc, and Teo (Teoranta) for Ltd.

Limited Company - Four types:

Private company limited by shares - If company is wound up, members' liability is limited to the amount, if any, unpaid on the shares they hold. Maximum number of members in the Republic of Ireland is 99.

Company limited by guarantee not having a share capital - Public company. Must have at least seven members. Members' liability limited to amount they have undertaken to contribute to company assets. If wound up, liability does not exceed amount specified in memorandum. If a guarantee company does not have a share capital, members are not required to buy shares (such as charities).

Company limited by guarantee having a share capital - As with a private company if the maximum number of members is 99. Members have liability either for the amount, if any, that is unpaid on the shares they hold, or for the amount they have undertaken to contribute to company assets, in the event that it is wound up.

A public limited company. Must have at least seven members. Liability is limited to the amount, if any, unpaid on shares they hold. Unlawful to issue any form of prospectus except in compliance with the Companies Acts 1963-2006. Nominal value of Company's allotted share capital must satisfy specified minimums which must be fully paid before company commences business or exercises any borrowing powers.

Single Member Company - Private company limited by shares or a guarantee company having a share capital, which is incorporated with one member, or whose membership is reduced to one person. Must have at least two directors and one secretary. Sole member can dispense with holding General Meetings including Annual General Meetings.

Unlimited Company - No limit on liability of members. Creditors may have recourse to shareholders for unpaid liabilities of the company. Must have at least two shareholders.

Undertakings for Collective Investment in Transferable Securities (UCITS) - Public limited companies formed under EU Regulation and the Companies Acts 1963-2006. Sole object of a UCIT is collective investment in transferable securities of capital raised from the public that operates on the principle of risk-spreading. Central Bank of Ireland must approve all registrations of UCITS.

Israel

Company (corporation) - Formed and registered in Israel in accordance with Israeli law. Most companies limit liability of their members in the form of shares. In this case the term "Limited" or the abbreviation "Ltd." must appear as part of the full name of the company.

Private Company, 1-50 shareholders, 1 director, may not offer or sell stock or debentures to the public. Articles must containt restriction on transfer of shares.

Public Company, minimum 7 shareholders, may offer stock or debentures to the public after issuing a prospectus with specified information. Must publish annual report that includes audited financial statements and directors' report, filed with Register of Companies, available to the public.

Foreign Company (branch) - Company formed overseas may have a branch or local office in Israel. Must register as a foreign company with Register of Companies within one month of its establishment. If the company uses "limited" as part of its name, it must display its name and the country where it is formed in every invoice, letter, announcement, advertisement, or other official publication. No requirement to publish financial statements of a private company.

Partnership - Entity that consists of persons who contract to form a partnership. Personal liability of the partners is not limited unless they are limited partners of limited partnerships. A foreign partnership is also permitted to do business in Israel.

Self-employed - A self-employed person works entirely for him/herself and is entirely liable for the business. Same rules of registration apply.

Cooperative - Entity found mainly in agriculture (such as a kibbutz or moshav), or transportation, or certain types of marketing operations associated with agricultural products.

Non profit organization - Mainly academic institutions, hospitals, charitable organizations, and municipalities. Non profits are subject to a special law governing their formation and operations.

Luxembourg

Société en Commandite Spéciale (SCSp): unlike an SCS, an SCSp does not have a legal personality separate from those of its partners; it is formed by an agreement among its partners and allows for more flexible structuring, not having to comply with corporate law requirements

Literally part of a foreign company this sort of business entity contains the original name, legal organizational form from origin country which is converted in

one of above mentioned form (Preduzetnik; O.D.; K.D.; A.D.; D.O.O.), as such it is registered in the Central Register of Companies. This form is a little bit specific and was created for companies that are domiciled registered in other countries and have its part in Montenegro.

Morocco

S.A.S (Société Anonyme Simplifiée) Unlisted Public Company (Au), Close Corporation (CC) (S. Africa), Private Corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can be restricted to director; no "one share - one vote" principle

Namibia

Close Corporation*

Companies (Private, Public and Section 21)*

Sole Trader*

Partnership*

Trusts*

Co-operatives*

Nepal

Private Limited Company: Liability, limited by shares; Name, cannot be deceptively similar to another registered company; Management, at least 1 director; Shareholders, limited to 1-50 excluding persons who are employed by company, prohibition against any invitation to the public to subscribe for shares; Founders, 1-50; Nationality, Nepalese company; Company purpose, any lawful purpose except industry on Negative List; Formation, file Memorandum and Articles of Association with Registrar of Companies.

Public Limited Company: Liability, limited by shares; Name, cannot be deceptively similar to another registered company; Management, at least 3 directors; Shareholders, minimum 7, no maximum, share subscription by public pursuant to a prospectus that complies with Companies Act of 2007 and Securities Act; a Private Limited Company can convert to Public Limited Company by complying with Companies Act of 2007; Founders, minimum 7; Nationality, Nepalese company; Company purpose, any lawful purpose except industry on Negative List; Formation, file Memorandum and Articles of Association with Registrar of Companies.

Branch: Liability, main company remains liable; Name, same as main company; Nationality, foreign company; Company purpose, any lawful purpose except industry on Negative List; Formation, file Memorandum and Articles of Association with Registrar of Companies, plus permission to work in Nepal by concerned authority; Founders, main branch.

Netherlands

Stichting foundation. Can run a business. No profit distribution to founders or board members.

bv (Besloten vennootschap) Ltd. (UK), LLC (US). Shares are privately registered and not freely transferable. The name means "closed company", stemming from the fact that the (group of) shareholder(s) is cannot be changed without consent from the majority of shareholder(s).

nv (Naamloze vennootschap) plc (UK), Corp. (US). Minimum issued share capital upon incorporation: EUR45,000. Literally translated, the title has the "nameless company", owing to the fact that shareholders are not formally known as such in company statutes and other legal documents.

New Zealand

Ltd (Limited) plc or Ltd. (UK). Names of limited liability companies that were registered under the Companies Act 1993 (but not those that were registered under the Companies Act 1955) must end with the word "Limited", the words "T?pui (Limited)", or the suffix "Ltd".

Pakistan

In a sole proprietorship, an individual on his/her own account carries out the business or profession. No formal procedure or formality is required for setting up a sole proprietary concern.

Partnership

A partnership is a business relationship entered into by a formal agreement between two or more persons or corporations carrying on a business in common. The capital for a partnership is provided by the partners who are liable for the total debts of the firms and who share the profits and losses of the business concern according to the terms of the partnership agreement.

Partnerships (other than banking companies) are generally limited in size to twenty partners. The interest of a partner is transferable only with the prior consent of the other partner(s). However, a partner's right to a share of the partnership income may be received in trust for another person.

For taxation purposes, partnerships are classified into:

(i) Registered Firms
(ii) Unregistered Firms

The income of the registered firm is subject to Super Tax before distribution to the partners. Also the individual income of the partners is subject to income tax at the usual rates.

For unregistered firms, income tax is levied on the firm's income and the partners are not liable to pay tax on the shares of profit received from the unregistered firm(s).

Company

A company is a legal entity formed under the Companies Ordinance, 1984. It can have share capital or can be formed without share capital.

A company having share capital may be formed as:

(i) A company limited by shares.
(ii) A company limited by guarantee.
(iii) An unlimited company.

Company Limited by Shares

The liability of its members is limited to the extent of their shares in the paid-up capital of the company. These companies may further be classified as public limited and private limited companies.

Public Limited Companies can be formed by at least seven persons by subscribing their names to the 'Memorandum and Articles of Association' of the company. The word 'Limited' is used as the last word of its name.

Private Limited Companies may be formed by at least two persons by subscribing their names to the 'Memorandum and Articles of Association' of the company. A private limited company, by its Articles of Association:

(i) Restricts the right to transfer its shares;
(ii) Limits the number of its members to fifty; and;
(iii) Prohibits any invitation to the public to subscribe for shares or debentures of the company.

A private limited company is required to use the words "(Private) Limited" as the last words of its name.

Company Limited By Guarantee

Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up. A company limited by guarantee is usually formed on a 'non profit basis'. Companies limited by guarantee use the words (Guarantee) Limited" as the last words of their n
Unlimited Company

Peru

Sociedad Anónima Abierta (S.A.A.): To qualify to register as an S.A.A., a company must meet one or more conditions laid down in Article 249 of Peru's General Corporation Law. Those conditions state there must be a primary public offering of shares or convertible bonds in stocks, which are held by more than 750 shareholders, more than 35% of its capital belonging to 175 shareholders, or that all shareholders entitled to vote approve the adjustment to the scheme. The S.A.A. is then audited by the Comisión Nacional Supervisora de Empresas y Valores (CONASEV).[46]

s.c. (spó?ka cywilna): "civil partnership", not a partnership or a company, but rather an agreement on the sharing of profits, losses and ownership of a business. Can be likened to a voluntary association.

sp.p. (spó?ka partnerska) limited liability partnership May also be denoted by the addition of i partner(zy) ("and partner(s)") to the firm's name. Can only be used for the purpose of practicing as a licensed professional listed in the appropriate provision of the Commercial Companies Code. The partners are fully liable for the partnership's debts, with the exception of debts incurred by other partners practicing their licensed profession and employees under their direction.

kooperativ/?: cooperative (many types, which differ by the type of activity, e.g. agricultural or production)

(Aktsionernoye obshchestvo/ ): ltd (UK), privately held shares (similar to a close corporation, or closely held corporation, in the US) (maximum fifty "owners of capital" (not shareholders). If there are more than fifty "owners of capital", they have a year to transform into a "?AO")

Prostoye Tovarishestvo (general partnership) and Kommanditnoe Tovarishestvo (limited partnership). These types of business entities are not popular (approximately 0.5% of the total number of business entities).

Hozyaystvennoe Partnerstvo (business partnership) is a "secret" entity. There is no equivalent in other jurisdictions.

Singapore

Private Limited Company, Sole Proprietorship and Partnership are the predominant types of business found in Singapore.[47]

LLP (limited liability partnership): owners have the flexibility of operating as a partnership while enjoying limited liability.[48] An LLP can sue and be sued, acquire and hold property, and have a common seal.

Pte Ltd/Sdn Bhd (private limited company/Sendirian Berhad) Ltd. (UK). Maximum 50 shareholders. There also exist "exempt private companies", being either owned by no more than 20 non-corporate shareholders, or wholly state-owned and designated by the finance minister as exempt.

Ltd/Bhd (public limited company/Berhad) plc (UK). There also exist public companies limited by guarantee, which conduct non-profit activities; the finance minister may approve the registration of such companies without the addition of the word "Limited" or "Berhad" to the name.

Singapore subsidiary company is a popular term used for a form of Singapore business entity. A subsidiary company can have different structures but is essentially a Private Limited Company and so is a separate legal entity. Characteristics of a Singapore subsidiary company include: i) 100% foreign ownership is allowed, ii) the company enjoys low tax incentives as per a resident company, iii) repatriation of profits is allowed and iv) the minimum paid up capital required is S$1. v) As a legal person, a subsidiary company can sue and be sued by others.[49]

Public company/publieke maatskappy public limited company (UK), corporation (US); has at least 7 shareholders (unless it is a wholly owned subsidiary of another company) and at least two directors. The company's name must end in "LTD"; its registration number ends in /06.

CC/BK (Close corporation/beslote korporasie): Has 1-10 non-corporate members. The name must end "CC" or "BK"; registration number ends /23. Registration number and members' names must appear on all correspondence. On 1 May 2011 the new Companies Act (Act 71 of 2008) came into force and disallows any new incorporations under this form.[50]

Thailand

(name format corporation name ): limited partnership There are two kinds of partnership: Limited partnership which has limited liability of the partnership, and unlimited partner which has unlimited liability to the third party for the partner. The unlimited partnership has the right to control the partnership. On the other hand, the limited partnership has no right to make decision in the partnership.

HAAO (Halka Aç?k Anonim Ortakl?k) ? Publicly held corporation This essentially is a special type of A.O. These type of companies can only be established as A.O.'s. When there are no specific rules under Capital Markets legislation, A.O. rules under Turkish Commercial Code will be applied to HAAO's.

Public limited company: Is a limited company whose shares may be traded publicly. Requires an authorized minimum share capital of £50,000;[54] of which it must have allotted shares to the value of at least £50,000 and a minimum of 25% must be fully paid up prior to starting business.

Unlimited company (or Welsh Anghyfyngedig). There is no limit on the liability of its members. It is not a requirement under company law to add or state the word or designation Unlimited or its abbreviations (Unltd., or Ultd.) at the ending of its legal company name, and most unlimited companies do not. Unlimited companies are exempted from filing accounts with the Registrar of Companies for public disclosure, subject to a few exceptions (unless the company was a qualified subsidiary or a parent of a limited company during the accounting period).

United States

In the United States, the individual states incorporate most businesses. Very few special types are incorporated by the federal government.

Tax classifications

For federal tax purposes, the Internal Revenue Service has separate entity classification rules. Under the tax rules, an entity may be classified as a corporation, a partnership, a Cooperative or a disregarded entity. A corporation may be taxed as either a C corporation or elect to be treated as a Subchapter S corporation. A disregarded entity has one owner (or a married couple as owner) that is not recognized for tax purposes as an entity separate from its owner. Types of disregarded entities include single-member LLCs; qualified sub-chapter S subsidiaries and qualified real estate investment trust subsidiaries. A disregarded entity's transparent tax status does not affect its status under state law. For example, for federal tax purposes, a sole-member LLC (SMLLC) is disregarded, so that all its assets and liabilities are treated as owned by its single member. But under state law, an SMLLC can contract in its own name and its owner is generally not personally liable for the debts and obligations of the entity.[55] To be recognized as a Cooperative for tax purposes Cooperatives must follow certain rules under Sub Chapter T of the Internal Revenue Code.[56]

Federally incorporated

The key word for a bank is "national". A bank chartered by the Office of the Comptroller of the Currency (OCC) must have the word "national" in its name. A bank chartered by a state cannot have "national" in its name.

For a savings bank (formerly called a savings and loan association) or credit union, the key word is "federal", and the same rules apply; a federally chartered savings bank or credit union must have the word "federal" in its name, while a state chartered savings bank or credit union cannot have "federal" in its name.

Partnerships

General partnership: a partnership in which all the partners are jointly and separately liable for the debts of the partnership. In most U.S. states, it can be created by agreement without requiring a public filing. The partners may themselves be legal entities or individuals.

LP, Limited partnership: a partnership where at least one partner (the general partner, which may itself be an entity or an individual) has unlimited liability for the LP's debts and one or more partners (the limited partners) have limited liability (which means that they are not responsible for the LP's debts beyond the amount they agreed to invest). Limited partners generally do not participate in the management of the entity or its business.

LLP, Limited Liability Partnership: a partnership where a partner's liability for the debts of the partnership is limited except in the case of liability for acts of professional negligence or malpractice. In some states, LLPs may only be formed for purposes of practicing a licensed profession, typically attorneys, accountants and architects. This is often the only form of limited partnership allowed for law firms (as opposed to general partnerships).

LLLP, Limited Liability Limited Partnership: a combination of LP and LLP, available in some states.

Limited Liability Companies

LLC, LC, Ltd. Co., Limited Liability Company: a form of business whose owners enjoy limited liability, but which is not a corporation. Allowable abbreviations vary by state. Note that in some states Ltd. by itself is not a valid abbreviation for an LLC, because in some states (e.g. Texas), it may denote a corporation instead. See also Series LLC. For U.S. federal tax purposes, in general, an LLC with two or more members is treated as a partnership, and an LLC with one member is treated as a sole proprietorship.

PLLC, Professional Limited Liability Company: some states do not allow certain professionals to form an LLC that would limit the liability that results from the services professionals provide such as doctors, medical care; lawyers, legal advice; and accountants, accounting services; architects, architectural services; when the company formed offers the services of the professionals. Instead those states allow a PLLC or in the LLC statutes, the liability limitation only applies to the business side, such as creditors of the company, as opposed to the client/customer service side, the level of medical care, legal services, or accounting provided to clients. This is meant to maintain the higher ethical standards that these professionals have committed themselves to by becoming licensed in their profession and to prevent them from being immune (or at least limit their immunity) to malpractice suits.

Corporations

Corp., Inc., Corporation, Incorporated: used to denote corporations (public or otherwise). These are the only terms universally accepted by all 51 corporation chartering jurisdictions in the United States. However, in some states other suffixes may be used to identify a corporation, such as Ltd., Co./Company, or the Italian term S.p.A. (in Connecticut; see under Italy). Some states that allow the use of "Company" prohibit the use of "and Company", "and Co.", "& Company" or "& Co.". In most states sole proprietorships and partnerships may register a fictitious "doing business as" name with the word "Company" in it. For a full list of allowed designations by state, see the table below.

Professional corporation, PC or P.C.: those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, accountants, and doctors.

"corporation", "company", "incorporated", or "limited", or an abbreviation of one of these words; may not contain the word "city", "borough", or "village" or otherwise imply that the corporation is a municipality.

"association", "bank", "company", "corporation", "limited" or "incorporated" or an abbreviation of one of these words or the equivalent in a foreign language. Corporation may not use "bank", "deposit", "credit union", "trust" or "trust company" unless it also has a license to operate one. May not use "limited liability company" or "limited company" or the abbreviations "L.L.C.", "L.C.", "LLC" or "LC"

"Corporation", "Company", or "Incorporated", "Limited" or shall contain an abbreviation of one of those words; but the name may not end with the word "Company" nor the abbreviation "Co." if the final word or abbreviation is immediately preceded by "and" or any symbol for "and"

"corporation", "incorporated" or "limited" or an abbreviation of one of such words is required and for a statutory close corporations for corporate provisions to apply. May not contain "bank", " trust", "trustee" or "credit union" unless approved by the Commissioner of Financial Institutions.

"corporation", "incorporated", "company", "limited", "corp.", inc.", "co." or "ltd"; If the corporation is a professional corporation, it must contain the term or abbreviation "professional corporation", "p.c.", or "pc".

"association", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "syndicate", or "limited", (or abbreviations thereof, with or without punctuation), or words (or abbreviations thereof, with or without punctuation) of like import of foreign countries or jurisdictions (provided they are written in Roman characters or letters)

'corporation,' 'incorporated,' 'company,' or 'limited,' or the abbreviation 'corp.,' 'inc.,' 'co.,' or 'ltd.,' or words or abbreviations of like import in another language; must not be longer than 80 characters

"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; if the word "company" or its abbreviation is used, it shall not be immediately preceded by the word "and" or an abbreviation or symbol representing the word "and."

"corporation", "incorporated", "company", "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; provided however, that if the word "company" or its abbreviation is used it shall not be immediately preceded by the word "and" or by an abbreviation of or symbol representing the word "and"

(except for banks) "association", "church", "college", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "university", "syndicate" or "limited", or one of the abbreviations "co.", "corp.", "inc.", "ltd.", or words or abbreviations of like import in other languages if they are written in Roman characters or letters

"corporation", "incorporated" or the abbreviation "Inc.", or the word "company" or the abbreviation "Co."; but if the word "company" or the abbreviation "Co." is used, it may not be immediately preceded by the word "and" or the abbreviation "&."

(except for railroad, telegraph and telephone corporations) "Corporation", "Incorporated" or "Limited", or the abbreviation of any of those words, or may contain instead the word "Company" or the abbreviation "Co." if the latter word or abbreviation is not immediately preceded by the word "and" or the symbol "&". No corporate name shall contain the phrase "doing business as" or the abbreviation "d/b/a". Only a bank or bank holding company is allowed to use any of "bank", "banker", "banking", "savings", "safe deposit", "trust", "trustee", "building and loan", "homestead", "credit union", "insurance", "casualty", "redevelopment corporation", or "electric cooperative".

nonprofit corporations are not required to use any of these words; for business corporations, they must use "corporation", "incorporated", or "limited", or shall contain an abbreviation of one or more of these words, or the word "company" or the abbreviation "Co." if that word or abbreviation is not immediately preceded by the word "and" or the character "&"

corporation, incorporated, company, or limited, or the abbreviation corp., inc., co., or ltd., or words or abbreviations of like import in another language, except that a corporation organized to conduct a banking business under the Nebraska Banking Act may use a name which includes the word bank without using any such words or abbreviations

No specific requirements stated except that a name appearing to be that of a natural person and containing a given name or initials must not be used as a corporate name except with an additional word or words such as "Incorporated", "Limited", "Inc.", "Ltd.", "Company", "Co.", "Corporation", "Corp.", or other word which identifies it as not being a natural person

Shall contain the word "corporation", "incorporated" or "limited", or an abbreviation of one of such words; there is also a long list of words a business corporation is not allowed to use without additional approval from other agencies including "board of trade", "state police", "urban development", "chamber of commerce", "state trooper", "urban relocation", "community renewal", "tenant relocation", "acceptance", "endowment", "loan", "annuity", "fidelity", "mortgage", "assurance", "finance", "savings" and many others

New York State Consolidated Laws, Business Corporations Law §301; Not-For-Profit Corporations Law, §301

a corporation must contain the word "corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; a limited liability company must contain the words "limited liability company" or the abbreviation "L.L.C." or "LLC", or the combination "ltd. liability co.", "limited liability co.", or "ltd. liability company"; a limited partnership that is not a limited liability limited partnership must contain the words "limited partnership", the abbreviation "L.P." or "LP", or the combination "ltd. partnership"; a limited liability limited partnership must contain the words "registered limited liability limited partnership" or "limited liability limited partnership" or the abbreviation "L.L.L.P.", "R.L.L.L.P.", "LLLP", or "RLLLP"; a registered limited liability partnership's name must contain the words "registered limited liability partnership" or "limited liability partnership" or the abbreviation "L.L.P.", "R.L.L.P.", "LLP" or "RLLP".

must contain the word "company", "corporation", "incorporated", "limited", or an abbreviation of one or more of these words; may not contain the words "limited liability company", "limited partnership", "limited liability partnership", "limited liability limited partnership", or any abbreviation of these words.

The name of the corporation which shall contain one of the words "association", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "syndicate", or "limited" or abbreviations thereof, with or without punctuation

For private corporations it shall contain one or more of the words "corporation", "incorporated", "company" or "limited" or an abbreviation of one or more of those words; shall not contain the word "cooperative." For non-profit corporations there is no specific requirement except the name cannot imply a purpose not dictated in its articles of incorporation and cannot contain the word "cooperative" or the phrase "limited partnership."

"corporation", "incorporated", "company", or the abbreviation "corp.", "inc.", "co.", or words or abbreviations of like import in another language (provided they are written in Roman characters or letters); existing corporations which were formed using only "limited" or "ltd" are not required to change their name

"corporation", "incorporated", "company"; the abbreviation: "corp.", "inc." or "co." or words or abbreviations of like import to the words or abbreviations listed in another language; without the written consent of the United States Olympic Committee, may not contain the words "Olympic", "Olympiad", or "Citius Altius Fortius"; without the written consent of the Division of Consumer Protection may not contain the words "university", "college" or "institute"

"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; shall not have the word "cooperative" or any abbreviation thereof as part of its name unless the corporation is a worker cooperative corporation;

"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; must not include "Bank", "banking", "banker", "trust", "cooperative", or any combination of the words "industrial" and "loan", or any combination of any two or more of the words "building", "savings", "loan", "home", "association", and "society",

^"Register a Joint Stock Company". Sultanate of Oman, Ministry of Commerce and Industry. Archived from the original on 2014-09-13. Retrieved 2013. The commercial name should bear Omani Joint Stock Company (S.A.O.G)